US vice president JD Vance believes Bitcoin will become an American household asset in the near future.
Recent reports show that Americans prefer Bitcoin to established assets like gold, and Vance believes this trend will continue. He emphasized that beyond price action, Bitcoin is bullish on its intrinsic value as an innovative technology.
Because of its effectiveness, he noted that Bitcoin and crypto adoption will continue to maintain mainstream adoption in the US and will enter even more balance sheets. He says that 50 million Americans currently own Bitcoin, extending to “too long” and “100 million.”
Additionally, Vance said that Bitcoin has deposited banks in the US and has expanded its financial services scope to many people who have no access to them. In particular, many people, including crypto enthusiasts, complain about the unfair requirements and marginalization in the banking system, and how blockchain technology has filled that gap.
The Vice President also mentioned Crypto’s application in several other aspects of the US economy, such as supply chain management and healthcare. Citing these utilities, Vance concluded that more and more Americans would soon hold Bitcoin.
Bitcoin: hedge against inflation
Interestingly, Vance also mentioned the important use cases of Bitcoin as a hedging asset. This story has spurred BTC’s historic price performance over traditional assets and other currencies, gaining momentum in the global market.
He called it a hedge against inflation and bad government policies, especially seen over the past four years. In particular, pioneering cryptocurrencies have outperformed most other assets over the past decade and have gained a reputation as a better investment alternative to escape Fiat’s erosion buying power.
Vance, on the other hand, does not share this feeling alone. Venture capitalist Tim Draper also highlighted the quality of this important Bitcoin. He was previously Share That Bitcoin will be worth the infinite amount against the US dollar in the future.
In particular, Vance also mentioned several other points in his May keynote speech. he Emphasised The industry has a champion in the White House, so that bitcoin stays here. Furthermore, he insisted that they fire Gary Gensler and do so to those who would hamper the growth of US digital assets.